Retail Space on Highway
For Sale
Contact for pricing
1516 N Lynn Riggs Blvd, Claremore, OK 74017
Remodeled retail space in prime Claremore location.
Property Size7,200 SF
Price / SF$201.39
Days on Market1603
Property Features for 1516 N Lynn Riggs Blvd
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1980
Year Renovated
2017
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Walman Commercial Real Estate Services
Listed By:
Justin Brown · License #OK 160445
(918) 408-7103
Source:
Crexi
Added: Jun 9, 2022
Changed: Oct 25
Last Checked: Oct 26 at 4:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Walman Commercial Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail property is located on Highway 66 in Claremore. The property was fully remodeled in 2017, including new HVAC units, electrical panels, and LED lighting. The building has a national credit tenant occupying 60% of the 7,200 square feet. The average household income within a 5-mile radius exceeds $74,000.
Key Highlights
- New 5‑year lease in place.
- National credit tenant occupies 60% of the building.
- Located on HWY 66 in the prime retail corridor of Claremore.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,055
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,021,100
$2.0M
Cap Rate 7%
$1,443,643
$1.4M
Cap Rate 9%
$1,122,833
$1.1M
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$152.9K $21.24/SF
− Vacancy
−$8.6K −$1.19/SF
EGI
$144.4K $20.05/SF
− OpEx
−$43.3K −$6.02/SF
NOI
$101.1K $14.04/SF
Area
Rogers County, OK
Vacancy
5.60%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,021,100
Cap Rate 7%
$1,443,643
Cap Rate 9%
$1,122,833
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.68M
NOI $101,055 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.80M
$1.58M – $2.10M
NOI $126,230 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
102k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 33%
Home Improvements & Furnishings 9%
Apparel 7%
Braum's Ice Cream & Dairy Stores
Dining
29,219 visits/mo
0.3 miles
Kum & Go
Shops & Services
28,221 visits/mo
0.1 miles
Dollar General
Shops & Services
9,220 visits/mo
0.3 miles
Westlake Ace Hardware
Home Improvements & Furnishings
8,884 visits/mo
0.3 miles
Goodwill
Apparel
7,104 visits/mo
0.1 miles
Demographics for 74017, OK
29,083
Population
12,038
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
140.5 sq mi
ZIP Area
207
Density / Sq Mi
$65,519
Median Household Income
$38,165
Median Earnings
$1,015
Median Rent
$184,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Remodeled retail space in prime Claremore location.
Where is this retail space located?
The property is located at 1516 N Lynn Riggs Blvd Claremore, OK.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: New 5‑year lease in place.; National credit tenant occupies 60% of the building.; Located on HWY 66 in the prime retail corridor of Claremore.
